EasyJet says it has carried out “further significant cancellations” as governments impose more travel restrictions and following “significantly reduced levels of customer demand”.
“These actions will continue on a rolling basis for the foreseeable future and could result in the grounding of the majority of the EasyJet fleet.”
The airline said it would continue to operate rescue flights for short periods where it could, in order to repatriate customers.
The carrier said it was taking “every action to remove cost and non-critical expenditure from the business at every level”.
EasyJet chief executive Johan Lundgren said: “European aviation faces a precarious future and it is clear that coordinated government backing will be required to ensure the industry survives and is able to continue to operate when the crisis is over.”